Bitcoin News Today: Municipal Workers Recover Satoshi Nakamoto Statue Fragments From Swiss Lake

Municipal workers in Lugano, Switzerland, have recovered fragments of the Satoshi Nakamoto statue from Lake Lugano following its theft and destruction. The artwork, titled Disappearing Satoshi, was removed from its base in Parco Ciani on August 2, just one day after Swiss National Day celebrations. The police confirmed the theft but have yet to identify the perpetrators [1][2].

The statue, created by Italian artist Valentina Picozzi, was designed to reflect the anonymity of Bitcoin’s pseudonymous creator through an optical illusion. Viewed from specific angles, the figure seemed to dissolve into digital code, symbolizing the decentralized nature of cryptocurrency. The project was announced in October 2024 during the third Plan ₿ Forum in Lugano and took 21 months to develop [1].

After the theft, Satoshigallery, the collective behind the project, immediately offered a 0.1 Bitcoin reward—equivalent to around $12,000 at the time—for any information that could lead to the statue’s recovery. The group emphasized that the theft would not deter its mission to promote Bitcoin culture through public art and has pledged to continue plans to install similar statues in 21 cities worldwide [1].

The recovery revealed that the statue had been deliberately vandalized, with some pieces submerged in the lake and others scattered along the shore. Picozzi confirmed the fragments had been located, and the group has pledged to restore the artwork. A Change.org petition has also been launched, calling for the restoration and offering to cover related costs [1].

The incident has drawn attention within the global cryptocurrency community, with some observers suggesting that the vandalism may have been linked to the Swiss National Day festivities. However, no suspects have been named, and the motive remains unclear. The statue’s destruction and subsequent retrieval have sparked broader discussions about the cultural and symbolic importance of Bitcoin and the increasing efforts to represent digital finance through physical art [1].

The statue was unveiled during the Plan ₿ Forum, a blockchain and cryptocurrency-focused event, and had become a popular landmark for both locals and tourists. Its disappearance was first noticed on social media, where users reported an empty pedestal in the park. The artwork was constructed from 304 stainless steel and corten blocks, materials chosen for their durability and visual impact [1].

The recovery of the Disappearing Satoshi statue marks a significant event in the evolving relationship between digital assets and public expression. While the theft represents an attack on a physical symbol of Bitcoin’s ideals, the swift recovery and the collective’s resolute response highlight the growing influence and community support for blockchain-related initiatives [1][2].

Sources:

[1] Bitcoin Creator Satoshi Nakamoto Statue Recovered from ... (https://finance.yahoo.com/news/bitcoin-creator-satoshi-nakamoto-statue-105846121.html)

[2] Satoshi Nakamoto Statue Recovered After Vandalism in ... (https://bitbo.io/news/satoshi-statue-lugano-recovered/)